Would it be realistic for the world to run on cryptocurrencies?

[TheBFGMinerZ]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

[AB de Royse777]

Adpotion. We need more people to use crypto. Any government or such power can not stop the use if one is knowledgeable properly. We need more awareness about the benefits of crypto especially bitcoin. Like:
Decentralisation,
Limited supply,
Can not create from out of thin air etc.

The more crypto educated people we will have the better the space will become.

[crwth]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency?

There are a lot of factors to be considered when talking about acceptance in general. I doubt it's going to happen.

First, imagine USD. It's a stable currency, but not every country accepts it directly, it needs to be converted first to the local currency. When someone is not taking it, why would they bother? It's going to be just a piece of paper in their hand, and it would be useless. It's all about acceptance on a global scale, and I don't think everyone would agree. It's not realistic, in my opinion. It's not just the government restrictions but the humans who would be ideally using it, it's nothing.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

Being optimistic about cryptocurrencies would be are good for you and for the people who accepts it but it's not going to be enough to convince other people about it too. If you educate people about it, it's just something that they might step aside after a couple of months. They should have practical application and usability of it.

[bobyhodob]

Adpotion. We need more people to use crypto. Any government or such power can not stop the use if one is knowledgeable properly. We need more awareness about the benefits of crypto especially bitcoin. Like:
Decentralisation,
Limited supply,
Can not create from out of thin air etc.

The more crypto educated people we will have the better the space will become.

So true , but I think an educated government will have more impact on the crypto world
some governments in the country are still handled by parents who may be too late to learn about the blockchain and they think only bad effects or might think about the benefits of an institution

[blckhawk]

Cryptocurrencies that are stable has potential. Other unstable like Bitcoin and other altcoins cannot be used to replace existing fiat monetary systems because of their volatility, which makes it difficult to be used as a medium of exchange, especially with smaller transaction amounts. These volatile ones still need to rely on stable currencies to be even viable of becoming a medium of trade for goods and services.

[BrewMaster]

cryptocurrencies are just currencies and like any other form of money they only can be used as a medium of exchange so the world can't run on them. all we can hope for is more adoption so that you can see it accepted in enough places so that you can have the choice to freely spend your bitcoin anywhere you go. this would specifically be beneficial for when you travel like for tourism to another country. in that case you won't have to exchange your money to their local currency, you simply use bitcoin aka the global currency.

[Astvile]

Being optimistic is good, specially when it comes to our futures.
A world working and funded solely by cryptocurrency will be good, all transactions that we usually do we can do it at home in an instant without dropping a sweat falling in line to pay electricity bills. Sending money will cost you less time and will be very convenient because you can do it anywhere as long as you have internet access with the help of crypto wallets.

[chaoscoinz]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

This is a rather easy question. for the entirety of the planet to ditch the current fiat cash model and to adopt Blockchain and Cryptocurrency technology you will have to put a smart device in every persons possession.
That doesn't necessarily mean that every citizen within every continent on the planet needs a smart device to access crypto, but they would need access to smart devices in order tot check and manage their balance. As of right now, Fiat cash that you can hold in your hand and barter and trade with is king. What will the impoverished and downtrodden people of society do who don't have the money to afford smart devices? 
Do we give them paper wallets instead? the world could never run solely on cryptocurrencies alone, its stupid at the moment and doesn't make sense.

[lionheart78]

It is realistic for the world to run on cryptocurrency since the technology is already available and there are some adoption that show great promise about using it.  Though we do not need to  rush because there are still some major flaws in the cryptocurrency system and that is the belief of the rich quick scheme.  People must be well educated first for cryptocurrency to function well.  The idea of rich quick should be debunked and the right and actual usage of cryptocurrency must be inculcated to the mind of people.

[avikz]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life.

No! A single crypto can't be scaled at global level! At least we don't have any such strong crypto in the market till date! So a decentralized cryptocurrency owned by no-one, will never become a mainstream global currency! Let's be realistic, please!

I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

Governments regulation around cryptos is the main bottleneck for crypto's adoption! Education may have its own effect, but definitely not the major one!

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

I don't really think so! The reason is already given above! Education is definitely required but it will not increase the adoption of cryptos! The only way to fuel adoption is to set up regulatory frameworks around cryptos. But that's not something we can do!

[mk4]

No! A single crypto can't be scaled at global level! At least we don't have any such strong crypto in the market till date! So a decentralized cryptocurrency owned by no-one, will never become a mainstream global currency! Let's be realistic, please!

Who not? If the lightning network ends up being successful sometime in the future, then a single crypto can definitely scale(not to mention that there will most definitely be other layer 2 and layer 3 solutions to help scalability). It just mostly depends if the governments around the world would actually allow bitcoin to be used as legal tender.

[airdnasxela]

If we look on a longer view, cryptocurrency is possible to be used worldwide. But right now, we still have to work on a lot of issues and problems before it will happen. People has been using paper money for a longer time and not everyone are capable of adjusting that easy. Although with different factors preventing crypto to achieve mass adoption, I still believe that it's possible to happen. Maybe we're already dead, but I'm positive about it.

[Baby Dragon]

Adpotion. We need more people to use crypto. Any government or such power can not stop the use if one is knowledgeable properly. We need more awareness about the benefits of crypto especially bitcoin. Like:
Decentralisation,
Limited supply,
Can not create from out of thin air etc.

The more crypto educated people we will have the better the space will become.

So true , but I think an educated government will have more impact on the crypto world
some governments in the country are still handled by parents who may be too late to learn about the blockchain and they think only bad effects or might think about the benefits of an institution

It is possible that it can affect crypto positively and negatively, it's because there are some people who have enough knowledge but used it in illegal things like using it to deceive others just to get the benefits they wanted. It's possible that they will take advantage of it but when it comes to positive side of course every transaction will be easy and less hassle. I also think that it won't be easy for other people particularly for those people who lived away from the city because some of them doesn't even have proper education and people have different preferences, it still going to be their choice because you can't just force someone to accept something they didn't even know.

[tranduong123]

If you're talking about the possibility that a completely decentralized cryptocurrency could replace fiat money, that's impossible. Unless we solve the problem: while fiat money is responsible by the government and the value is controlled by the central bank, decentralized cryptocurrencies are not completely under anyone's control.

[ntsdm1]

It is quite possible to replace Fiat money with cryptocurrencies.But this requires that all people understand what cryptocurrency is and why it is needed.

[doomistake]

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

I doubt that. Cryptocurrency is not something that you could force someone to eat, educating people about it is easy, but the hard part is their decisions whether they are going to accept it or not, maybe they would comfortable rely on fiat, because it is the easiest way for them to earn as of the moment. We are going to need a continuous educating mode if we really want to push this world wide use of cryptocurrency, that includes the persuading process of other Governments that is against cryptocurrency.

This is going to be a long process, we just have to wait until people don't have any option but cryptocurrency, they are blinded by fiat for now.

[kro55]

I think it's too early to predict whether or not we can run our countries on BTC. Right now BTC has issues like scalability that need to be addressed prior to its mass adoption.
Governments too are not much in BTC favour unfortunately.

[dimonstration]

I think it's too early to predict whether or not we can run our countries on BTC. Right now BTC has issues like scalability that need to be addressed prior to its mass adoption.
Governments too are not much in BTC favour unfortunately.

There are too many present issues in cryptocurrency if all those issues will be given a steady solution then it have a chance but for now, crypto is just an option of transactions, investment or payment in our world. It can be use but  still with limit especially many countries are still against it.

[migws]

I am just wondering would it be possible in the future for the world to run solely on cryptocurrency? Considering that right now there are many people from different walks of life who are using cryptocurrencies in their day to day life. I think right now one of the main limiting factors for world-wide cryptocurrency usage is the world’s governments who make restrictions on cryptocurrency usage. Moreover, I also think another factor in limiting cryptocurrency usage is a lot of people’s lack of understanding of cryptocurrencies as it is a rather new technology to most people.

I think that we can solve most of these problems by educating people about cryptocurrencies and debunking what the mainstream media have done to slander cryptocurrencies.
I honestly think that if these issues a solved then we will probably have more people to use cryptocurrencies worldwide.

What would do you guys think, I’m just speaking (posting) my thoughts over here. Feel free to correct me if I am wrong. I’ just rather optimistic about the future of cryptocurrency usage in the future.

There are too few people in the world who could be cryptocurrency tutors like Pomp. The World needs more influencers in order to develop an understanding of cryptocurrency among people. Thanks to popularization, it is possible to maximize the use and understanding of cryptocurrency in the world.

[Colt81]

I think it's too early to predict whether or not we can run our countries on BTC. Right now BTC has issues like scalability that need to be addressed prior to its mass adoption.
Governments too are not much in BTC favour unfortunately.

Indeed. Not all governments are all in favor in bitcoin because even there are countries who accepts bitcoin as a currency like US, Switzerland, Australia, UK, and so on.  The government still supports and regulate fiat, and bitcoin has a lot of issues due to scam accusations and about the changes of it's price that it started to go down badly.